Prince Harry may reportedly use a tax loophole in the U.S. to avoid paying taxes. An expert believes that the Duke of Sussex will use his charity, the Invictus Games, to take advantage of this flaw.
Tax expert David Lesperance from Canada told Daily Express that Prince Harry might qualify for a special O non-immigrant visa for his long-term stay in America. This type of visa is given to individuals who have "extraordinary ability in the sciences, arts, education, business, or athletics."
The financial expert believes that the Duke of Sussex can use his credentials as the founder of the Invictus Games to qualify for the O non-immigrant visa. Prince Harry established this global sporting event for former military servicemen who served various countries, including the United States.
Lesperance said that this option will be more feasible for the British royal instead of becoming a Green Card holder. The latter would be an easier process since he has an American-born wife, Meghan Markle.
But if Prince Harry seeks a Green Card then that would mean renouncing his citizenship and Queen Elizabeth and paying taxes in the U.S. The expert said that any decent taxman would advise clients to aim for a goal of paying low taxes as much as possible. So, his other option is to have as much control over his taxable income and plan his immigration status carefully via the O non-immigrant visa as the founder of the Invictus Games.
Lesperance said that this loophole is not something new, especially among celebrities. Other famous names who have claimed their O non-immigrant visa status apparently include Prince Harry's fellow Brits -- David Beckham, Piers Morgan and Lily Allen. Justin Beiber and Rihanna are also able to stay in the U.S. for a long time because of this special visa.
The one drawback to the O non-immigrant visa status, however, is the number of days the individual has stayed in the U.S. According to royal expert David McClure, the Duke of Sussex will soon spend 183 days in America, which would mean that he'll be considered a "resident for tax purposes."
McClure said that, one way or another, Prince Harry and Meghan will "get hit" by California's high taxes. The expert warned that the royal will have to carefully watch his step, in terms of the income he generates, since the tax people in the U.S. are "more zealous" compared with Britain. As it is, the Sussexes indicated their tax concerns when they bought their $15 million mansion in Santa Barbara using a shell company.
